NetEase, Inc. $NTES Shares Sold by Range Financial Group LLC

Range Financial Group LLC cut its stake in NetEase, Inc. (NASDAQ:NTES) by 28.7% during the third quarter, HoldingsChannel reports. The firm owned 10,643 shares of the technology company’s stock after selling 4,294 shares during the period. Range Financial Group LLC’s holdings in NetEase were worth $1,290,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NTES. TD Waterhouse Canada Inc. grew its stake in NetEase by 3.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,301 shares of the technology company’s stock worth $639,000 after acquiring an additional 171 shares in the last quarter. Sanders Morris Harris LLC purchased a new position in shares of NetEase during the third quarter worth approximately $718,000. Euro Pacific Asset Management LLC purchased a new position in shares of NetEase during the third quarter worth approximately $1,400,000. Perpetual Ltd bought a new stake in shares of NetEase during the third quarter valued at approximately $24,089,000. Finally, QRG Capital Management Inc. raised its stake in shares of NetEase by 23.5% during the second quarter. QRG Capital Management Inc. now owns 9,468 shares of the technology company’s stock valued at $1,213,000 after acquiring an additional 1,804 shares in the last quarter. Hedge funds and other institutional investors own 11.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on NTES shares. Weiss Ratings cut NetEase from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. BNP Paribas Exane started coverage on NetEase in a report on Tuesday, September 22nd. They set an “outperform” rating and a $180.00 price objective on the stock. Wall Street Zen lowered NetEase from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $160.00 target price on shares of NetEase in a report on Friday, August 21st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $163.00 target price on shares of NetEase in a report on Monday, September 28th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.86.

NetEase Price Performance

Shares of NTES stock opened at $125.11 on Wednesday. The stock’s 50-day moving average is $121.14 and its 200 day moving average is $121.52. NetEase, Inc. has a 1-year low of $106.06 and a 1-year high of $153.54. The company has a market cap of $80.10 billion, a P/E ratio of 17.25, a PEG ratio of 1.47 and a beta of 0.68.

NetEase Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd were issued a $0.48 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.5%. This is a decrease from NetEase’s previous quarterly dividend of $0.72. NetEase’s dividend payout ratio (DPR) is 26.31%.

Insiders Place Their Bets

In other NetEase news, VP Aileen Mo sold 716 shares of NetEase stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $120.64, for a total value of $86,378.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. 54.70% of the stock is currently owned by company insiders.

NetEase Company Profile

NetEase, Inc is a China-based internet and technology company founded in 1997 by William Ding. The company develops and operates online games for personal computers and mobile devices, serving players in China and international markets.

NetEase Games is the company’s primary business and offers original titles such as Fantasy Westward Journey, Justice, and Identity V, along with games developed through partnerships and international studios. NetEase also publishes and distributes games in overseas markets through its global operations.

Beyond gaming, NetEase operates NetEase Cloud Music, an online music streaming and social platform, and Youdao, which provides educational technology, learning tools, and related content and services.